The use of Formulae and Tables has a long history in actuarial exams. The first edition of the tables was issued in 1898, with five editions up to the present day, with each edition having its own distinct colour. Every Actuary will remember the colour of the Formulae and Tables they used when sitting their exams, with the colour defining the period in which they sat the actuarial exams. 

The scope and content of the Formulae and Tables has evolved and changed over time to reflect the needs of each generation of actuaries, with the content of the Formulae and Tables being updated to reflect a range of factors including changes in experience, technology, and the evolving topics and syllabus requirements of the actuarial exams. 

Whilst there has been much change in the Formulae and Tables since 1898, the Formulae and Tables book is a tangible link to the past for the actuarial profession, something physical that represents the breadth of knowledge an Actuary must grasp. 

This new edition of the Formulae and Tables 'red book' represents a considerable overhaul of its predecessor the ‘orange book’ first published in 2002. 

The contents have been updated to reflect more fully the evolving syllabus requirements of the profession and in the case of the tables, to reflect more contemporary experience and methods. Correspondingly, there has been some removal of material from the previous version of the Formulae and Tables. It is important to note that these tables have been produced for the sole use of examination candidates. The Institute and Faculty of Actuaries does not express any opinion whatsoever as to the circumstances in which any of the tables may be suitable for other uses.